“Today’s meeting highlighted the strains that rising costs for education are putting on students and their families, and burdening students with thousands of dollars in additional debt is simply unacceptable," added Sen. Klobuchar. "I will continue to work to ensure education remains affordable for students in Minnesota and across the country.”

On July 1st, interest rates on federally subsidized Stafford student loans will double from 3.4% to 6.8%.

However, if passed, the Student Loan Affordability Act would prevent the interest rate on student loans from doubling.